Category Archives: Women Entrepreneurship

Can Small Business Cope with New DOL Rules?

Posted on by
Reply

By Elizabeth Sullivan, WIPP Government Relations

In a string of Executive Orders recently taken by the President and executed by the Department of Labor, the House Small Business Committee examined the effects of these regulations on small businesses. In a hearing titled, “The Cumulative Burden of President Obama’s Executive Orders on Small Contractors,” three out of the four witnesses agreed these new regulations hurt more than help small businesses. Witness Dr. David Madland, from the Center for American Progress Action Fund, disagreed. The Executive Orders under scrutiny include Fair Pay and Safe Workplaces, Minimum Wage for Contractors, and Establishing Paid Sick Leave for Federal Contractors, just to name a few.

You might ask why (almost) everyone is crabby, considering the titles for the orders seem pretty straightforward. Everyone should be paid fairly, right? Yes, argued Donna Huneycutt – testifying on behalf of the National Defense Industrial Association – but the actions don’t fit the description. As WIPP’s formal comment pointed out, the proposed system would unload extra paperwork requirements on contracting officers and place burdens on small business contractors. “Several small business contractors have expressed to the AGC that they are strongly considering or plan to walk away from the federal construction market,” voiced Jimmy Christianson, testifying on behalf of the Associated General Contractors of America (AGC). This concern echoed throughout the hearing, with potential job loss cited abundantly as an effect of the regulations.

And it’s not just jobs that small businesses are worried about. To ensure compliance, contractors will also be emptying their pockets. Mr. Christianson highlighted that many small businesses do not have in-house counsel or teams of attorneys on staff. As a result, these businesses have to hire compliance experts or counsel at an average cost of about $400 an hour, which deters many small businesses from seeking federal contracts.  Small business construction contracting companies typically pay for about 20 hours of guidance – you do the math.

Singing a very different tune, Dr. Madland noted studies that highlighted the positive effects of general wage and standard increase. “The state of Maryland found that more companies wanted to do business with the state after they raised standards.” The other three witnesses, representing various groups with small business members, disagreed. Congressman Hanna acknowledged the report’s outcome, but questioned it by citing the three other “real life” panelists that point out they are burdensome, overcomplicated and discouraging people from entering the marketplace.

Overall, Congressman Hanna and other panelists brought up a good point. The commotion is not just coming from the regulations themselves, but that the small businesses they impact are barely considered in the process. Our voices need to be amplified.

WIPP National Partner of the Month – August 2016

Posted on by
1

Faye's Headshot_DSC_0024 (disc b).JPG-2.5 megWIPP National Partner of the Month – August 2016

Faye Coleman, Principal of FEC Enterprises, LLC.

We sat down with Faye to hear a little bit more about her business and her relationship with WIPP.

 

Tell us a little about your company and its mission.
After selling my former government contracting company of 31 years in March of 2015, I started my current consulting practice, FEC Enterprises, LLC., a multifaceted executive coaching, diversity training and leadership development organization that helps owners/executives of small-to-mid-size businesses and non-profit organizations achieve the success they seek through intuitive problem solving and focused action planning.

Our mission is to inspire business executives, entrepreneurs, and professionals in transition to unlock their full potential, and realize the success they seek.  Along with executive and transition coaching, we offer our clients a range of additional human capital enhancement services, such as leadership and diversity training, organizational change management and retreat facilitation.

Have you always been an entrepreneur? If not, what inspired you to take the leap?
I started my first company, Westover Consultants, Inc., in 1984, after several years of working in senior management positions in various government contracting firms in the Washington DC area.  Over time, I realized that working for myself was the only way that I could truly ensure that the projects I spent my time on would always reflect my personal values.  Over the course of 3 decades, Westover Consultants grew to become one of the most highly regarded professional services firms of its size in the DC metropolitan area, and developed a reputation for improving the human condition with each undertaking.

What is your biggest lesson learned working with the Federal Government?
In government contracting, there are certain attributes that every business owner must master in order to be successful in this unpredictable and often politically volatile field. Chief among them are (1) integrity, (2) flexibility, and (3) resilience.

Do you have a success story that you are particularly proud of? Tell us about it!
High on my list of success stories is the work Westover Consultants did providing emergency, disaster mental health counseling services to the survivors of Hurricane Katrina who were scattered throughout the Gulf States.  After identifying and screening over 1,600 counselor applicants within a 2-week turn-around time, we staffed nearly 1,245 two-week deployments of clinicians to shelters, clinics, hospitals, and outreach facilities across the Gulf Coast over an 18-month period, in 2005 and 2006. Our teams were comprised of licensed psychiatrists, psychologists, clinical social workers; substance abuse and pastoral counselors, nurses and other mental health professionals with expertise across multiple, complementary disciplines. Our government client, the Substance Abuse and Mental Health Services Administration (SAMHSA), acknowledged the life-saving work of our staff and clinicians with the “Spirit of Recovery Award”, which they presented to Westover Consultants at the conclusion of the contract.

Tell us about your experience as a WIPP member? What resources/value has WIPP provided that has been helpful to you and your company?
I have been an active member of WIPP since 2005, and in 2007, I was the recipient of WIPP’s Diversity Leadership Award”.  As a current WIPP board member, I can personally attest to the difference that WIPP makes for women business owners. Through WIPP’s unparalleled advocacy on behalf of women business owners, my company, and countless others, continue to benefit from expanded federal procurement opportunities, training and technical assistance in business development, increased knowledge about and access to business capital resources, and enhanced credibility with congressional leaders and decision makers of both parties.

Real Experience and Tips from Transition Music and Media on Federal Contracting

Posted on by
1

Interview with Donna Ross Jones, Founder and CEO of Transition Music and Media Corporation

Donna Ross Jones1. Tell us a little about your company and its mission.

Music is the heartbeat of our culture and our hand is forever on the pulse. We are passionate about music and the people who create it. Transition Music was originally formed with the mission to create new opportunities for artists, songwriters and composers. This became especially important when technology hit the industry, causing a massive music industry decline.

Today Transition is one of the top 100 music publishers in the world, with more than 1 million music performances globally each year. We unite music with some of the most watched content on the planet. We own a global music library and have a staff of award winning music creators and executives working daily to provide music and manage music process’s for all forms of visual media, from TV series, feature films to corporate productions to webisodes. Our first national production for the National Center for Missing and Exploited Children went viral and ignited a global conversation increasing awareness about wandering and the dangers facing children with autism.

2. Have you always planned on doing business with federal government?

No we had not always planned on doing business with federal government. In our continual goal of expansion and creating more opportunities for music creators, we routinely look at new markets. Knowing that the Federal Government is the largest purchaser of goods and services in the US we began exploring how and if there was an opportunity for us.

3. How have you proceeded with pursuing Federal Contracts?

We decided to invest in educating ourselves as to how and if the federal market place was a match for us. I began going back and forth to DC, working with the SBA and the Department of Commerce to understand the market and how Transition could be successful. We decided to invest the time and resources needed to obtain certifications when we learned Transition Music Corporation was the only WOSB music library of our size and scope, who was also an MBE and an 8a. We saw an opportunity to bring our “Hollywood” brand of expertise to the federal government through music and visual content creation, while assisting them in reaching their diversity goals.

How has this shaped your business?

It is still shaping our business. I keep going back to our mission “to create new opportunities for our creative community”. Pursuing business opportunities outside of mainstream entertainment creates new revenue streams making it possible for producers, writers, musicians, artists and so on to make a living using their gifts and doing what they love.

4. How do you think can ChallengeHER and Women Owned Small Business (WOSB) program help women-business owners in the process?

Working in the government space, like working any other market sector, is about investing time learning, making new contacts and building relationships. ChallengeHER and the Women Owned Small Business (WOSB) program give women the opportunity to make contacts and connect to resources to get the information needed to make informed decisions on all aspects of their business.

How has it helped your business?

Our efforts have resulted in contracts to produce marketing videos, and PSA’s for government agencies. Our music library is competing for music contract in multiple federal agencies and awards in recognition of our work, including Transition Music and Media being named the Minority Media Firm of the Year for the City of Los Angeles, by the Department of Commerce and the MBDA.

5. Could you share the key takeaways you took from the event?

I’ve attended several ChallengeHER and Women Owned Small Business (WOSB) events, and the key takeaways are always the same; come prepared knowing
who you want to talk to and why. Listen, you never know who you will learn from.

6. If you have won contracts under WOSB would you be willing to share size of the award? How has it impacted/grown you business? Hired new employees?

Transition holds multiple certifications; 8a, WOSB, and WMBE. Our contracts to date have been based on our 8a certification, however being a WOSB has been a part of every conversation, and people are probably checking that box too!

7. What percentage of your revenue comes from government contracts?

For YE 2016 we have forecasted 15%.

8. What contracts are you currently working on?

We are currently in production on 5 videos for the MBDA a division of the Department of Commerce. The videos being produced will tell the Minority Business Development Agency (MBDA) story, and educate the public, employees and stakeholders on MBDA products and services.

9. What have you worked on in the past?

More than 26 television series & 6 networks rely on Transition Music as their exclusive source for “ALL” things music; from composers, to production music, to licensing, to new artist, music supervision & building music revenue streams. Specifically, in the federal market Transition Music and Media has provided video production services and music for the SBA, MBDA, Center of Exploited and Missing Children (Funded by the DOJ).

10. What would you recommend other WOSBs doing business with federal government?

Do your research to determine the feasibility of opportunities, their size and scope and how long it typically takes to get a contract awarded to an incumbent. Over and over business owners say the certifications did not work for them and they wasted their time. It is critical to know that with our without any certifications, the federal government consists of people and people buy from who they like, so if you go into this with an expectation that the certifications will get you on a list, and the list will bring business opportunities to you, you will be disappointed and waste your company time and resources.

Government Contracting – Starting, Sustaining, and Scaling

Posted on by
1

By Sonja N. Hines–President, H&S Resources Corporation and Member of the Women Presidents’ Organization.

The federal government purchases products and services from just about every industry. Key points to consider when doing business with the government are starting, sustaining and scaling. Many rules and administrative regulations require implementation before business can be done.

Starting

  • In order to do business with the government, you must first register your company in the System for Award Management Database (SAMS). SAM registration incorporates all government contractor information into one system. Contractors and vendors can register, file representations and certifications, and then search for contracting opportunities. A contractor enters information once, which reduces the risk of duplicating or entering conflicting information.
  • Determine your North American Industry Classification System (NAICS) codes. These ID codes which identify business establishments by category are to government contractors what Social Security numbers are to individuals.
  • Establish an account with the Federal Business Opportunity Database (FEDBIZOPPS) website, an internet data source about contracting opportunities & purchases the US government needs to make. It is one of some sources that post the government contracts.
  • Meet with the Office of Small and Disadvantaged Business Utilization (OSDBU) representatives at Federal Agencies to introduce your company and learn how the agency procurement cycle works.

Sustaining

  • Establish a pipeline to identify ongoing business opportunities. There are a number of products, websites and companies that are helpful. For example, our company uses GovWin which is an online government intelligence portal providing contacts, information and resources needed to create and award successful solicitations. These companies, as well as other free government resources, help you find opportunities ahead of time, have information and market analysis needed to strategically pursue an opportunity and make sure you compete in the markets that represent the best fit and increase your probability of a win.
  • Review FEDBIZOPPS and other opportunity databases on an ongoing basis.
  • Market your services to the appropriate agency. To increase the U.S. Department of Labor’s utilization of all types of small businesses, the Department’s Office of Small and Disadvantaged Business Utilization (OSDBU) sponsors Small Business Vendor Outreach Sessions (VOS). These sessions offer small businesses the opportunity to market their capabilities directly to OSDBU and agency program officials and learn about potential Department procurement opportunities. The OSDBU develops and implements appropriate outreach programs aimed at heightening the awareness of the small business community to the contracting opportunities available within the Department. Outreach efforts include activities such as sponsoring small business fairs and procurement conferences, as well as participating in trade group seminars, conventions, and other forums that promote the utilization of small business as contractors.

Scaling

  • Establish a process to search for opportunities across all agencies on a regular basis.
  • Be proactive: look at agency forecasts so you can contact the buyer before an opportunity/solicitation is released for bid.
  • Set up a meeting with potential contracting officers.
  • Participate in appropriate opportunities and submit a bid.

Tips

  • Remember that persistence is the key.
  • Form strategic partnerships with other firms enables you to go after work you would not ordinarily be able to pursue to increase your reach and scope.
  • Make sure you thoroughly understand your company’s financials and have the appropriate back office infrastructure in place to be able to grow.
  • Participate in the agency procurement cycles.
  • Be sure you have enough money set aside to continue normal business operations; the average payout by the government is 45 days.

Diversify your business mix to include government and commercial work.

Federal Contractor, The Boeing Company, Shares Tips with WIPP on Subcontracting

Posted on by
Reply

Interview with Boeing Supplier Diversity Manager, Champagne Bell.

  1. Tell us a little about The Boeing Company.

Champagne Bell: Boeing is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space, and security systems. As a top U.S. exporter, Boeing supports airlines and provides products and services support to customers in 150 countries. We have global footprint and continue to expand it.

Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.

  1. How does Boeing work with small businesses?

Champagne Bell: Boeing has contracts with 21,500 suppliers and partners globally and we focus on partnering worldwide for mutual growth and prosperity. Currently, we contribute over $5B to small and diverse businesses annually and Boeing is a part of the Billion Dollar Roundtable (note: an organization that brings together major corporations that make meaningful and measurable contributions to the economic growth of woman-owned and minority-owned companies).

  1. Do you have a supplier diversity program? Can you tell us little more about it?

Champagne Bell: Since 1951, Boeing has had a Supplier Diversity Program in place. In addition, we have also targeted initiatives and one of them focuses on women-owned enterprises.

Our commitment to small and diverse business enables us to manage our businesses and deliver value and solutions where our suppliers, Boeing, and customers win.

We are proud that our Supplier Diversity Program has demonstrated results including:

  • Highest rating from Government customer.
  • Received national industry awards.
  • Dedicated enterprise Supplier Diversity team.
  • Boeing has received recognition from our external and industry partners for its supplier diversity work.
  1. What role do subcontractors play in your government business?

Champagne Bell: Our subcontractors play a critical role on our business and help support our commitment to adhering to DOD Statutory Contracting and Subcontracting Goals.

  1. Do you have any programs to target women owned businesses for subcontracting?

Champagne Bell: Yes. One of our Strategic Initiatives focuses on enhancing relationships with eligible women-owned small businesses to ensure we maintain a viable supply chain of WOSBs to support our businesses.

  1. What are the key qualifications you are looking for among your suppliers/subcontractors?

Champagne Bell: Boeing is looking for suppliers who:

  • Do their homework to fully understand how their products and services can directly benefit Boeing and the solutions we offer our customers.
  • Share our commitment to performance excellence in terms of cost, quality, and delivery.
  • Are financially healthy and are continuously focused on improving affordability and efficiency through Lean operations.
  • Will share their knowledge for how we can all better manage our businesses and deliver value and solutions where our suppliers, Boeing, and customers win.
  • We need suppliers who are looking toward the future with us, applying what we learn together as we continue to invest in technologies that will help us deliver the critical products and services that our customers will demand. We are looking for long-term partnerships.
  1. What would you recommend to WOSBs looking for subcontracting opportunities?

Champagne Bell: To summarize it:

  1. How do you think can ChallengeHER and WOSB program help women-business owners to get into the federal procurement?

Champagne Bell: As mentioned above, we have a strategic initiative which focuses on WOSB suppliers and we believe that the programs like ChallengeHER are helping a lot to encourage women to enter the federal procurement business. It also helps us, the Boeing Company, to find diversified suppliers that we are looking for.

Other general advice is:

  • Understand the procurement practices and requirements.
  • Understand quality requirements.
  • Small business owners are admired for their ingenuity and aggressiveness so embrace that mindset to find your customers and know their business.
  • Leverage engagement with large primes to understand business needs.

5 Ways To Be An Active WIPP Member/Friend

Posted on by
Reply

WIPP logo final copy

We wouldn’t be where we are without you, your participation is important to us! Whether you are a WIPP member or not there is a way for you to participate. Here are 5 ways you can get started:

  1. Follow WIPP online. Stay up to date by following one of our social media channels.

Facebook: https://www.facebook.com/WIPPWeDecide/

Twitter: @WIPPWeDecide

LinkedIn: https://www.linkedin.com/groups/1808377

Blog: http://WomenInBizBlog.org

  1. Participate in WE Decide 2016 polls. Who knows better than you how policy affects your businesses and your families? As an important voting bloc, women need to be the voice of reason. Now you can make a difference. You can have your voice heard through We Decide 2016.  Learn more about WE Decide 2016 and take the latest quick poll: http://wedecide2016.org/get-involved/todays-quick-poll/
  1. Go to a ChallengeHER event. These events are designed to assist you in competing for government contracts by reducing the competition utilizing the WOSB Set Aside Program. The ChallengeHER events have sessions for those who are just beginning the process of becoming a federal contractor, and for those who have federal experience but looking for higher level content. Read more about the program and register for an event near you: http://www.wipp.org/?ChallengeHER
  1. Become a WIPP Member. WIPP has a wide range of membership levels and benefits. Check them out here and join today: http://bit.ly/1EpjHDm
  1. Join a WIPP Issue Committee. Already a WIPP member but want to do more? Join one of our Issue Committees and be the first to hear about policy issues affecting your business: http://bit.ly/1L8YNxm

 

Rethink Red Tape with WIPP and Women Entrepreneurs

Posted on by
Reply

medium

Earlier this week, WIPP partnered with the National Association of Manufacturers, Small Business & Entrepreneurship Council and International Franchise Association to launch a project advocating regulatory reform called Rethink Red Tape.

Nearly 10 million businesses across the United States are owned by women. These businesses employ eight million workers and drive $1.2 trillion in sales. With women-owned businesses growing at a rate one and a half times that of other small businesses, women entrepreneurs play a critical role in our economy and our laws need to support their ability to sustain and grow their businesses.

Unfortunately, regulations are getting in the way. Too many of today’s regulations are duplicative, inefficient and the result of a process that listens least to the people it burdens most. Government rules directly impact the ability of businesses to pay wages, create jobs and grow. In fact, America’s smallest businesses pay more per employee to comply with regulations than medium and large companies. And since they lack the money and manpower to absorb higher compliance costs, the impact of these regulations can mean the choice between cutting staff, scaling back operations and even shutting off the lights.

But there is a solution: Making sure small business owners have a seat at the rulemaking table.

In partnering with Rethink Red Tape, we at WIPP are calling for smarter regulations and a more transparent regulatory process—one that will hold policymakers accountable to produce better, fairer rules. We want to have confidence that the rules government creates are thoroughly vetted, the products of careful cost benefit analyses and impartial science. We are advocating for elected officials from both parties to prioritize regulatory reform as a win-win for everyone.

The first step in making this happen is to make sure your voice is part of the national dialog about regulatory reform.

Hearing from small business owners, particularly women small business owners, will help bring to life the very real impact of federal regulations. Rethink Red Tape will use your stories to put a face and a name to those paying the price for our country’s broken regulatory process. Our perspectives and unique experiences as women entrepreneurs can drive reform forward in a substantive way.

Take a look at the principles guiding our effort, and consider joining us at www.RethinkRedTape.com, Facebook and Twitter.

May 2016 WIPP National Partner of the Month – JeFreda Brown

Posted on by
Reply

JeFredaRBMay 2016 WIPP National Partner of the Month

JeFreda Brown, CEO, Goshen Business Group, LLC

 

WIPP sat down with JeFreda to hear a little bit more about her business and relationship with us:

Tell us a little about your company and its mission.

Goshen Business Group, LLC is a full service consulting firm. We provide financial and business compliance consulting services. Our focuses are compliance, risk management, and fraud. We service small to large sized organizations in the US and are looking to expand internationally. We provide our services through consulting and professional development training. We also can develop training courses.

Our mission is to educate organizations on their financial responsibilities. This includes helping them learn and understand federal, state, local, and industry regulations and laws to develop and maintain compliant financial practices.

 

Have you always been an entrepreneur? If not, what inspired you to take the leap?

Actually, when I was 7 I used to pray and tell God I wanted to be a business owner one day so I could be rich and help people. I left my job with the Federal Government in January 2011 to go full time into my business. I felt like I wasn’t using my full potential and that I needed to do more to help others. I have so much knowledge that can be very valuable to those who need it. My grandfather worked for the federal Government, but he also had his own construction business. He was my biggest inspiration growing up. Seeing him as an entrepreneur and how he helped so many people gave me the courage to take the leap.

 

What is your biggest lesson learned working with the Federal Government?

I would say the biggest lesson I learned while working with the Federal Government was to be very detailed. I was a Senior Auditor with Defense Contract Audit Agency (DCAA). We were trained to be very thorough and detailed. That has helped me tremendously in my business. I also learned how very important risk assessments and fraud detection are. I have taken those lessons and now teach them to my clients.

 

Do you have a success story that you are particularly proud of? Tell us about it!

I have several, but I can roll them up into one. I am always getting feedback from my clients letting me know how much they appreciate my help. They say, “we don’t know these things, and we need someone like you to help us and keep us out of trouble”. One client told me that she doesn’t think enough people recognize how much knowledge I have and how much I can help their companies. I have had so many clients who have received bad advice from others, but they found me, and I was able to fix things that were done incorrectly by others.

 

Tell us about your experience as a WIPP member? What resources/value has WIPP provided that has been helpful to you and your company?

I have truly enjoyed being a WIPP member the last 5 years. It has been a great learning experience for me. WIPP provides so many valuable resources for women owned businesses and professionals. The monthly webinars are awesome. I was even asked to do a webinar training a couple of years ago on DCAA Audits, and it’s now part of the contracting certification program. Not only am I learning what I need for my business, but I’m also connecting with and interacting with other amazing women. I’m building great business relationships with these women. WIPP has also shown me that they value me and trust me by selecting me to be a part of the Procurement Committee, Leadership Advisory Council, and now Treasurer on both the WIPP Board of Directors and Education Foundation Board of Directors. You have to be involved to get value out of WIPP. You have to actively participate in the things WIPP offers. No other organization for women offers what WIPP offers, in my opinion. WIPP has a reach across the globe, and it’s growing more and more. It will soon be up there in the ranks like huge international nonprofits such as UNICEF.

Twitter: @GoshenBG

Facebook: https://www.facebook.com/GoshenBG/

New OPEN Report Says Women-Owned Businesses Growing at Highest Pace Since the Recession

Posted on by
Reply

Earlier today, American Express OPEN released the Sixth Annual State of Women-Owned Businesses Report and the results are proof of the women-owned business community’s ability to power through adversity.  Some highlights of the report, which is based on historical and current U.S. Census Bureau data and Gross Domestic Product data, are:

  • Between 2007 and 2016, the number of women-owned firms rose by 42% with women starting 1,072 (net) new businesses per day.
  • Women-owned firms now number 11.3 million, employ nearly 9 million people and are generating more than $1.6 trillion in revenue.
  • Over the past nine years, the number of women-owned firms has grown at a rate five times faster than the national average, reaching a post-recession high
  • Number of Firms Owned by Women of Color More Than Doubled Over Past Nine Years

OPENRepIcon

“We are pleased to see the continued rise of the vital role that women-owned businesses play in our country’s post-recession recovery,” said Susan Sobbott, president of American Express Global Commercial Payments. “We are inspired by these women who are continuing to pursue their entrepreneurial passions, and are strengthening our communities and economy even further.”

“Every day, 1,000+ women choose the path of entrepreneurship.  This report captures the optimism of our members who contribute mightily to the economy by starting and building their businesses—especially women of color,” said Ann Sullivan, Chief Advocate for Women Impacting Public Policy.

 

Industry trends

As we emerge from the recession, women are turning to traditional industries such as lifestyle and services companies. Between 2007 and 2016, the following four industries had the biggest increase in women-owned firms:

  • other services (e.g. home care to hair and nail salons and pet care businesses), up 98%;
  • administrative, support and waste management services (including janitorial and landscaping businesses as well as office administrative support and travel agencies), up 64%;
  • accommodation and food services, up 62%;
  • and construction, up 56%.

 

View the full 2016 State of Women-Owned Business Report, here.

The report was prepared for American Express OPEN by Womenable, a research, program and policy development consultancy, who is also a valued WIPP Coalition Partner.

SBA Office of Advocacy Report Examines the Millennial Entrepreneur

Posted on by
Reply

SBAOOALast week the Small Business Administration published the first report in a series of trends in entrepreneurship by the Office of Advocacy’s Office of Economic Research, “The Missing Millennial Entrepreneurs” by Daniel Wilmoth, PhD. The report’s focus was on how Millennials reported less self-employment than prior generations. This 6-page report analyzes important trends amongst Millennial entrepreneurs, comparing them to Generation X and Baby Boomers – ultimately suggesting that entrepreneurship among Millennials will continue to be relatively low for decades.

Some other important key points highlighted in the report include:

  • In 2014, less than 2 percent of Millennials reported self- employment, compared with 7.6 percent for Generation X and 8.3 percent for Baby Boomers.
  • At age 30, less than 4 percent of Millennials reported self-employment in their primary job in the previous year, compared with 5.4 percent for Generation X and 6.7 percent for Baby Boomers.

To view the full report, click here.